AMI PODCASTS

Successfully running a healthcare practice is no easy task.

Janice Wheeler, the President and her team share their insights on what healthcare practice owners can do to help their business grow without sacrificing their work-life balance.

Whether you own a health care practice or just want to learn more about practice management, these are the podcasts for you!
Check our new podcasts out at the links below!

Ep 54 – How To Bring The World To Your Door

Ep 53 – Interview with Alex Zlatin of Maxident: Marketing strategies for Practice Owners during Covid-19

Ep 52 – Marketing The Benefits of Your Practice

Ep 51 – Popular Myths About Making Profit

Ep 50 – A Better Future

Ep 49 – Ejecting a Patient or A Client From Your Practice

Ep 48 – The Stress Of Indecision

Ep 47 – Extreme Service

Ep 46 – Interview With Marc Nadeau: Human Resources Laws And Handling Legal Matters In Your Practice

Ep 45 – 6 Cool Things To Learn As A Boss

Ep 44 – The Definition of Insanity

Ep 43 – Are You feeling Overwhelmed?

Ep 42 – How To Waste Money On marketing Dollars

Ep 41 – The Overly Busy Practice

Ep 40 – Effective Ways to Control Your Stress

Ep 39 – How to Get in Trouble With Your Staff

Ep 38 – Why Bosses Get Cranky

Ep 37 – Life-Work Balance

Ep 36 – Stabilizing New Staff Members

Ep 35 – The Department Of First Impressions” Objection

Ep 34 – Handling The “I Can’t Afford It” Objection

Ep 33 – Getting To Know Your New Patients

Ep 32 – Bad Future Or Good Future

Ep 31 – How To Get More Patients Into Your Practice

Ep 30- Dealing With People in The Workplace Isn’t Always Easy

Ep 29 – Are you Losing Your Profit Margin?

Ep 28 – Building loyalty With Staff and Patients

Ep 27 – Bosses Vs. Leaders – Which one are you?

Ep 26 – How To Deal With Negative Feedback and Criticism

Ep 25 – VACCINATE YOUR PRACTICE AGAINST COVID-19

Ep 24 – 3 Golden Rules to Communicate Better and Avoid Arguments

Ep 23 – How to Have More Patience With Your Patients

Ep 22 – FIVE Seriously Good Hiring Questions

Ep 21 – Update, Renovate or Move Your Healthcare Practice?

Ep 20 – How To Deliver Exceptional Patient Experience

Ep 19 – Internal Marketing (IMAGE! IMAGE! IMAGE!)

Ep 18 – How To Be Graceful Under Pressure

Ep 17 – Marketing Tip: DIG DEEP!

Ep 16 – What You Ultimately Want For Your Practice

Ep 15 – Keeping Your Practice Alive

Ep 14 – Pandemic Survival Tool for Your Practice

Ep 13 – Side effects of covid-19 on your practice

Ep 12 – Good Boss, Bad Boss

Ep 11 – How To Be More Successful In Your Life

Ep 10 – Take control of your practice

Ep 9 – Patient Education (part 3)

Ep 8 – Patient Education (Part 2)

Ep 7 – Patient Education (Part 1)

Ep 6 – How To Increase Patient Referrals

Ep 5 – How to Increase Patient Numbers

Ep 4 – Job Descriptions

Ep 3 – A Calm Working Environment

Ep 2 – The Ideal Employee

Ep 1 – Formulating a Winning Team

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Emotions Affecting Production?

You and your staff are all human beings, and you have feelings.  A lot of those feelings or emotions are not necessarily under complete control and could often be said to be negative.  Things happen, reactions occur, and stuff is said that may be injurious to otherwise fairly good relationships, right?

Often, negative emotions can be brought into the practice from home whether it is anger at a child who wouldn’t get ready on time and made one late for work; or there was a spousal disagreement of some magnitude that brings one down; or one had a bad or no sleep and all manner of emotions are roaring around in one’s head and may leak out and pour all over someone who doesn’t actually deserve it.  Sometimes, in the heat of a moment of pressure and speed, thoughtless comments are made that spark some miscommunications.

Does it Affect Production?

Of course it does!  Negativity of any sort bouncing around in a practice can slow down production and make it a less than enjoyable place to work.  Equipment can start to suddenly break down when there is too much negative emotions in the air, staff can make mistakes, patients can “feel” the emotional atmosphere and can be turned off from referring friends and family to your practice.

For an example, I left a dental office because, after a couple of visits, I grew tired of the dentist constantly carping at the dental assistant while treating me.  It was unpleasant to say the least, both for the dental assistant and me.

How to Get Positivity Going

For starters, a good staff meeting with everyone present (and not singling anyone out in the meeting) to work out some ground rules for keeping negativity out of the practice.

One example would be an agreement that when they arrive at work in the morning, and cross the threshold of the front door, they put their game face on.  Actors can do it when they are playing a part and yet feel wretched inside, so therefore staff can do it too.  Maybe have some loud, cheerful music playing first thing in the morning as the staff are arriving and getting the place ready before the patients start arriving.

Maybe just agreeing on a method of getting a team member to “lighten up” when they are being a bit munchy could improve things.

Good staff meetings and fun morning huddles and really bonding as a great team all going in the same direction of giving extraordinary service to every patient can make work so much more fun.  Having awards for exemplary care and being the most upbeat also can add to the mix.

Work it out between you and put your ideas into action and observe how much nicer it is to go to work every day!


Click here to find out how we can help your productivity!

Ramp Up, Or Exit Strategy?

There comes a point in your practice when you reach a cross-roads and you start wondering which path to take:  Should I ramp up the practice?  Or should I work out a sale price and prepare an exit strategy?

In order to strategically work out which path you should take, there are many separate factors to consider such as age, health and physical condition, financial security, personal goals, responsibilities, profitability of the practice, condition of the practice, market conditions, and so on.  Here are a list of questions and thoughts to help you in this process, not in any particular order of importance:

  1. Personal Goals

Perhaps all you ever wanted to be was the profession that you chose, and you are not done with that path.  Or maybe you have a level of excellence or skill you still want to reach for, or a size that you wanted your practice to achieve, and so on.

On the other hand, perhaps you have achieved your practice goals, but you have other goals that you have always wanted to accomplish.  For instance, one client wanted our help to grow his practice so it would sell very profitably so he could be debt-free and have a substantial cushion to start his toy-making business that he had always wanted.  There can be making opportunities for your “life after practice.”

  1. Age, Physical Condition and Health

Nowadays, age is not so much a factor with respect to ramping up or exiting. No one SAYS at what age you have to stop.  One of our clients was 79 years old, in excellent physical condition, and wanted to double her practice.  So she solicited our help and she did double in a few months and continued working till 89.  A marketing campaign was needed because of her very white hair which suggested to patients that she must be retiring soon.  The new marketing message sent out went like this:  “Retiring?  Not even thinking of it.  I’m ramping up my practice!”  It filled her practice back up and referrals from patients turned back on.

However, if you have physical conditions starting to make practising painful, then ramping up your practice and selling it profitably may be urgently needed.  Alternatively, you could get in a few associates and become mainly the CEO of the business to keep the income flowing in while you cut back on your provider duties.

  1. Financial Security

This is a big one because you may live to be 85 – 100 years old and need to consider exactly how much money you need to have access to after you retire, taking into consideration inflation and also, what lifestyle you would like to have.  Prepare for the worst-case scenario and live without worry.

  1. Responsibilities

You may be wanting to retire at a younger age for a variety of possible reasons but you still have kids who need to go to university, etc. and you need to keep the income flowing in order to fulfill those responsibilities.  In that case, if you REALLY want to exit, let’s build up the practice so it sells for max profit and release you from it.

  1. Market Conditions

There are times when practices sell extremely well and other times when the market is down and there is a glut of practices for sale (like during a recession, for instance).  If possible, you want to plan this carefully so you don’t give your practice away in a fire sale due to the economy.

  1. Condition of the Practice

If your practice is old looking, has equipment that is not up to date, little to no marketing is being done, with a lease that is ending soon and no 10-year renewal period in writing (as banks now require) or it has a demolition clause in it (which banks hate), is under- or over-staffed, and has a small patient base, you will not get top dollar for your practice.  In this case, find a consulting company (we’re available!) to help you ramp up and get all these issues handled.  You may then sell your practice for $200,000 to $500,000 more!

  1. Profitability of the Practice

Most practices are not running efficiently enough to say that they are at full capacity.  Over the last 32 years, we have helped more than 1,800 practice owners take their practices to whole new levels, and therefore when they wish to sell, they will get a better sale price.  The purchaser of a practice needs to see that there will be enough profit left over after paying all the usual bills AND the monthly payment on the new loan for the purchase.  The previous owner did not have that big loan to pay out of his or her take home pay.

SO, HERE’S THE QUESTION:

With the above factors taken into consideration, do you want to ramp up your practice and get more enjoyment and profits?  Or do you need an exit strategy to gracefully and profitably sail into a different future?


Call us for a free consultation to analyze your current conditions and potential and see how we can help:

 416-466-6217 or click here